Suppose that in the country of Worthland, the productive resources are owned by the state and most economic decisions are made by its central government. This country has "planned economy".
<h3>What is planned economy?</h3>
An economic system where the components of the economy (such as labor, capital, and natural resources) are under the direction and regulation of the government in order to meet the goals of an all-encompassing economic development plan; contrast with free enterprise.
Some features of planned economy are-
- The government owns and controls all resources.
- Producer or consumer sovereignty do not exist.
- The pricing of products and services cannot be determined by market forces.
- The government's principal goal is to provide products and services to everyone, not to make a profit.
- As a result, the government decides what sorts of things and services will be created, how those goods and services will be made, and who will use them.
Characteristics of this economy include-
- governmental control of wages and pricing,
- limited property rights,
- government ownership of key businesses and industries, and
- robust black markets.
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Answer:
Time of consumption.
Explanation:
When evaluating the most effective communication method for a message, a manager wants to use a method that affords the receiver the most control over when the message is dealt with. This is referred to as <u>time of consumption.</u>
Time of consumption is referred to the time of receiving the message. As per the case given, manager is looking for communication method which is effective as in receiver should have most control on the message, when it is received or dealt with. When message is received, it should be ligible, ease of replying, trackable, short and should be relevant, which make it most effective communication.
The Securities and Exchange Commission could fine Bob.
Option D.
<u>Explanation:
</u>
The U.S. Securities and Exchange Commission (SEC) have been established as a self-governing federal government entity that protects investors, maintains the securities markets running equally and normally and promotes capital formation. The first federal control board on securities markets were set up by Congress in 1934.
The SEC will only initiate civil proceedings against violations of law, but deals on criminal proceedings with the Justice Department. The SEC recovered approximately Four billion dollars in fines and other damage following its investigation after the Great depression.
Answer:
1. 2,300 units
2. $36,800
3. $39,200
Explanation:
The computation of company’s break-even point in unit sales is shown below:-
Break Even Point (Unit Sales) = Fixed Cost ÷ Contribution Margin Per Unit
= Fixed Cost ÷ (Sales Price Per Unit - Variable Expense Per Unit)
= $9,200 ÷ ($16 - $12)
= $9,200 ÷ $4
= 2,300 units
2. The computation of break-even point in dollar sales is shown below:-
Break Even Point (Dollar Sales) = Break Even Units × Selling Price Per Unit
= $2,300 × $16
= $36,800
Contribution Margin Ratio = (Sales Price Per Unit - Variable Expense Per Unit ) ÷ Sales Per Unit × 100)
= ($16 - $12) ÷ $16 × 100
= $4 ÷ $16 × 100
= 25%
Break Even Sales = Fixed Expenses ÷ Contribution Margin Ratio
= $9,200 ÷ 25%
= $36,800
3. The computation of new break-even point in unit sales is shown below:-
Break Even Point (Unit Sales) = Fixed Cost ÷ Contribution Margin Per Unit
= Fixed Cost ÷ (Sales Price Per Unit - Variable Expense Per Unit)
= ($9,200 + $600) ÷ ($16 - $12)
= $9,800 ÷ $4
= 2,450 units
Break Even Point (Dollar Sales) = Break Even Units × Selling Price Per Unit
= 2,450 units × $16
= $39,200
It’s false because marketing is not about producers or consumers